Arconic Inc (ARNC) to Issue Quarterly Dividend of $0.06 on November 25th

Arconic Inc (NASDAQ:ARNC) announced a quarterly dividend on Wednesday, September 20th, Wall Street Journal reports. Stockholders of record on Friday, November 3rd will be paid a dividend of 0.06 per share by the basic materials company on Saturday, November 25th. This represents a $0.24 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, November 2nd.

Shares of Arconic (NASDAQ ARNC) opened at 25.12 on Wednesday. The firm’s market capitalization is $11.08 billion. Arconic has a 12 month low of $16.75 and a 12 month high of $30.69. The stock’s 50 day moving average is $26.06 and its 200 day moving average is $25.81.

Arconic (NASDAQ:ARNC) last released its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Arconic had a return on equity of 7.07% and a net margin of 3.68%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.09 billion. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Arconic will post $1.18 earnings per share for the current fiscal year.

In other Arconic news, Director Patricia F. Russo bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $24.57 per share, for a total transaction of $368,550.00. Following the transaction, the director now directly owns 7,928 shares in the company, valued at $194,790.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elmer L. Doty bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $24.51 per share, for a total transaction of $147,060.00. Following the completion of the transaction, the director now owns 4,409 shares in the company, valued at $108,064.59. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 26,000 shares of company stock worth $640,310.

A number of equities analysts recently commented on ARNC shares. J P Morgan Chase & Co raised shares of Arconic from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $30.00 to $29.00 in a research report on Monday, July 10th. Seaport Global Securities raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, July 13th. Vetr lowered shares of Arconic from a “strong-buy” rating to a “buy” rating and set a $28.78 target price on the stock. in a report on Tuesday, July 25th. Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, August 22nd. Finally, Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Arconic has an average rating of “Hold” and a consensus price target of $27.18.

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About Arconic

Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.

Dividend History for Arconic (NASDAQ:ARNC)

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